Taxes on transfer of property

Posted In CategoryLaws and Regulations
  • S
    Subhan 2 years ago

    What taxes are paid on transfer of property in Punjab? 

  • U
    Umair 2 years ago

    The rate of the tax shall be fixed as a percentage of the amount of consideration of transfer of property. 

  • A
    Asmaan 2 years ago

    A Local Government for a Tehsil/Town may levy tax on the transfer of immovable property situated within its limits as provided in Part-II of the Second Schedule of the Punjab Local Government Ordinance, 2001.

  • A
    Asghar 2 years ago

    The tax shall be paid by the transferee of the property unless otherwise mutually agreed to between the transferor and the transferee in writing.

  • I
    Innyas 2 years ago

    Under the provisions of the Act, the property tax is levied on the annual value of buildings and land located in the rating area.

  • T
    Tariq 2 years ago

    Tax is levied at the rate of 5% of annual value at which the property may be let out from year to year basis

  • M
    Mansoor89 1 year ago

     

    The transfer taxes are transfer fees that the government collects from the persons getting the property transferred like Gift Tax Gain, Tax Capital, Gains Tax, Property Tax, Real Estate Transfer Tax etc.

  • A
    Asfand 1 year ago

    You have to mention clearly that whether you want to know about moveable property or immovable property.

  • F
    Faizan 1 year ago

    The transfer taxes on a property are collected at the time of the transaction of transfer of the property from one person to another person.

  • A
    Asama 1 year ago

    No tax shall be levied on the transfer of immovable property.

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